Opinionomics: today's best analysis and opinion

1. Is Heathrow in the Wrong Place? (SERC)

Paul Cheshire, of LSE's Spatial Economics Research Centre, assesses Justine Greening's claim that "if you were starting from scratch", Heathrow is in the wrong place.

2. The Social Cost of Motoring (Lovelo Bicycles)

A look at what the true cost of motoring may be if all the externalities were taken into account.

3. Encouraging news on jobs, but far too early to call a labour market recovery (Left Foot Forward)

Richard Exell analyses yesterday's KPMG report on jobs, and asks how far we can trust the information contained within.

4. All the signs are there for another credit crunch (Debtonation)

Britain’s crisis is one of a vast bubble of private sector debt, writes Debtonation. These private debts eclipse – by a huge margin – our public sector debt as a share of the national cake. They help explain why the economy struggles to recover from the shocks of 2007-9, and why the banks still pose a grave systemic threat.

5. Finally, Spain (New York Times)

Paul Krugman argues that Spain, not Greece, is the quintessential euro crisis country.

A plane stocks up at Heathrow Terminal 5. Credit: Getty Images

Alex Hern is a technology reporter for the Guardian. He was formerly staff writer at the New Statesman. You should follow Alex on Twitter.

Getty
Show Hide image

Lord Sainsbury pulls funding from Progress and other political causes

The longstanding Labour donor will no longer fund party political causes. 

Centrist Labour MPs face a funding gap for their ideas after the longstanding Labour donor Lord Sainsbury announced he will stop financing party political causes.

Sainsbury, who served as a New Labour minister and also donated to the Liberal Democrats, is instead concentrating on charitable causes. 

Lord Sainsbury funded the centrist organisation Progress, dubbed the “original Blairite pressure group”, which was founded in mid Nineties and provided the intellectual underpinnings of New Labour.

The former supermarket boss is understood to still fund Policy Network, an international thinktank headed by New Labour veteran Peter Mandelson.

He has also funded the Remain campaign group Britain Stronger in Europe. The latter reinvented itself as Open Britain after the Leave vote, and has campaigned for a softer Brexit. Its supporters include former Lib Dem leader Nick Clegg and Labour's Chuka Umunna, and it now relies on grassroots funding.

Sainsbury said he wished to “hand the baton on to a new generation of donors” who supported progressive politics. 

Progress director Richard Angell said: “Progress is extremely grateful to Lord Sainsbury for the funding he has provided for over two decades. We always knew it would not last forever.”

The organisation has raised a third of its funding target from other donors, but is now appealing for financial support from Labour supporters. Its aims include “stopping a hard-left take over” of the Labour party and “renewing the ideas of the centre-left”. 

Julia Rampen is the digital news editor of the New Statesman (previously editor of The Staggers, The New Statesman's online rolling politics blog). She has also been deputy editor at Mirror Money Online and has worked as a financial journalist for several trade magazines. 

0800 7318496